Manager Of Goldman's Petershill Fund To Join Man

Aug 23 2011 | 1:25am ET

Jonathan Sorrell, the head of a Goldman Sachs private equity fund that invests in hedge fund managers, will leave the bank to join the Man Group.

Sorrell has been named head of strategy at the world's largest hedge fund and will join its executive committee. He will be charged with expanding the firm's presence in Asia and the U.S., the Financial Times reports, adding that Man does not plan any acquisitions similar to its purchase last year of GLG Partners.

Since 2007, Sorrell, one of Goldman's top bankers, has led its Petershill Fund. That fund has invested in some of the best-known names in the hedge fund industry, among them Capula Investment Management, Trafalgar Asset Management and Winton Capital Management, and owns stakes in nine firms.

Sorrell is the second son of advertising executive Martin Sorrell to leave Goldman within the last year; his brother, Robert, resigned late last year to launch a hedge fund, Sorrell capital. His oldest brother, Mark Sorrell, remains a partner at Goldman.

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